Isar Aerospace raises $70 million
Posted: Sun, Jun 23, 2024, 11:23 AM ET (1523 GMT)
Isar Aerospace has raised more than 65 million euros ($70 million) in an extension of an earlier Series C round. The company announced Thursday that it raised the funding from a mix of existing and new investors, the latter including the new NATO Innovation Fund. The extension brings the size of the Series C round to more than 220 million euros and the overall funding raised by Isar to more than 400 million euros. The company says the new funding will go towards efforts to scale up production of its Spectrum small launch vehicle. The rocket has yet to make its first flight and the company has not provided recent updates on when the vehicle will be ready to launch.
Isar Aerospace has raised more than 65 million euros ($70 million) in an extension of an earlier Series C round. The company announced Thursday that it raised the funding from a mix of existing and new investors, the latter including the new NATO Innovation Fund. The extension brings the size of the Series C round to more than 220 million euros and the overall funding raised by Isar to more than 400 million euros. The company says the new funding will go towards efforts to scale up production of its Spectrum small launch vehicle. The rocket has yet to make its first flight and the company has not provided recent updates on when the vehicle will be ready to launch.
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